Canadian Metals Announces Flow-Through Financing of up to $250,000

MONTREAL, QUEBEC--(Marketwired - Dec. 23, 2016) - Canadian Metals Inc. (The "Corporation") (CSE:CME) (CSE:CME.CN)
announces plans to complete a non-brokered private placement (the "Private Placement") of up to 1,666,667 flow-through shares at a price of C$0.15 per share for gross proceeds of $250,000 (the "Offering"). The net proceeds of the Offering will be used for exploration work.

The corporation intends to complete the offering on or before december 31, 2016 and is subject to the approval of the Canadian Securities Exchange. The securities issued pursuant to the Offering will be subject to a 4 month and 1 day hold period.

In connection with the Offering, the Company may pay finder's fees to qualified finders in accordance with the policies of the CSE.

About Canadian Metals

Canadian Metals Inc. is focused exclusively on the development of its Langis Project, a high-purity silica deposit located in the province of Quebec. The Company is rapidly positioning itself to eventually become a North American silicon metal & ferrosilicon producer.

Cautionary Statements Regarding Forward Looking Information

Certain statements included herein may constitute "forward-looking statements". All statements included in this press release that address future events, conditions or results, including in connection with the pre-feasibility study, its financing, the hybrid flex project, job creation, the investments to complete the project and the potential performance, production and environmental footprint of the silicon plant, are forward-looking statements. These forward-looking statements can be identified by the use of words such as "may", "must", "plan", "believe", "expect", "estimate", "think", "continue", "should", "will", "could", "intend", "anticipate" or "future" or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties and assumptions, including those mentioned in the Corporation's continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Corporation and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.